Karnataka minister, Cong leader evaded tax on Rs.162 crore, I-T raid reveals
The investigators had found "huge unexplained cash deposits" in the bank accounts of family members and associates of the two leaders
Huge deposits of cash and gold have been recovered from the home of Karnataka minister and Congress leader Ramesh L Jarkiholi and Laxmi R Hebbalkar, the chief of the state Congress women's wing, following raids by the income tax department.
Rs. 41 lakh in cash and 12.8 kg of gold were found during the raids at their homes in Belgaum, Gokak and Bengaluru. The department also said there was an "admission of undisclosed income" of Rs. 162 crore.
News agency Press Trust of India quoted Jarkiholi as saying the raids were a "political controversy". "I have not committed any wrong... The I-T officials had visited us in Belagavi and we have cooperated with them. Even in future, we would cooperate with the officials," PTI quoted him as saying.
The searches, a statement from the Income Tax department said, were launched on January 19 to probe allegations of tax evasion in the business groups.
The investigators had found "huge unexplained cash deposits" in the bank accounts of family members and associates of the two leaders.
The IT department also said during the search operation, mobs had gathered around the premises in Gokak and Belgaum and attempts were made to disrupt law and order.